77,895 Shares in Legg Mason Inc (LM) Acquired by Graybill Bartz & Assoc Ltd.

Graybill Bartz & Assoc Ltd. acquired a new stake in Legg Mason Inc (NYSE:LM) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 77,895 shares of the asset manager’s stock, valued at approximately $2,813,000. Legg Mason makes up approximately 2.2% of Graybill Bartz & Assoc Ltd.’s portfolio, making the stock its 26th largest position. Graybill Bartz & Assoc Ltd. owned about 0.08% of Legg Mason as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Los Angeles Capital Management & Equity Research Inc. increased its position in Legg Mason by 33.5% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 157,275 shares of the asset manager’s stock worth $5,266,000 after buying an additional 39,466 shares in the last quarter. SG Americas Securities LLC acquired a new position in Legg Mason during the third quarter worth about $362,000. Canada Pension Plan Investment Board increased its position in Legg Mason by 188.6% in the third quarter. Canada Pension Plan Investment Board now owns 5,800 shares of the asset manager’s stock worth $194,000 after buying an additional 3,790 shares in the last quarter. Rhumbline Advisers increased its position in Legg Mason by 2.8% in the third quarter. Rhumbline Advisers now owns 168,425 shares of the asset manager’s stock worth $5,639,000 after buying an additional 4,589 shares in the last quarter. Finally, BlackRock Inc. increased its position in Legg Mason by 17.1% in the third quarter. BlackRock Inc. now owns 157,528 shares of the asset manager’s stock worth $5,274,000 after buying an additional 23,050 shares in the last quarter. Institutional investors and hedge funds own 78.75% of the company’s stock.

Institutional Ownership by Quarter for Legg Mason (NYSE:LM)

Legg Mason Inc (NYSE:LM) traded up 0.74% on Tuesday, reaching $38.07. 720,838 shares of the company’s stock were exchanged. Legg Mason Inc has a 1-year low of $27.54 and a 1-year high of $38.99. The company has a market capitalization of $3.71 billion, a P/E ratio of 17.46 and a beta of 1.93. The firm has a 50-day moving average price of $36.91 and a 200-day moving average price of $34.01.

Legg Mason (NYSE:LM) last released its quarterly earnings results on Wednesday, April 26th. The asset manager reported $0.92 EPS for the quarter, topping the consensus estimate of $0.63 by $0.29. The business had revenue of $723.13 million during the quarter, compared to analyst estimates of $701.50 million. Legg Mason had a net margin of 3.81% and a return on equity of 3.94%. The company’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. Equities research analysts expect that Legg Mason Inc will post $2.26 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 10th. Stockholders of record on Tuesday, June 13th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, June 9th. This represents a $1.12 annualized dividend and a dividend yield of 2.94%. This is a positive change from Legg Mason’s previous quarterly dividend of $0.22. Legg Mason’s dividend payout ratio is currently 87.13%.

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LM has been the subject of a number of research reports. Jefferies Group LLC restated a “buy” rating and set a $41.00 target price on shares of Legg Mason in a research report on Monday, March 27th. Citigroup Inc decreased their target price on shares of Legg Mason from $40.50 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, January 25th. Zacks Investment Research upgraded shares of Legg Mason from a “sell” rating to a “hold” rating in a research report on Thursday, April 13th. Finally, Evercore ISI downgraded shares of Legg Mason from a “hold” rating to an “underperform” rating and set a $36.00 target price for the company. in a research report on Friday, March 3rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $39.43.

In other news, CAO Ursula Schliessler sold 1,745 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $37.39, for a total transaction of $65,245.55. Following the completion of the transaction, the chief accounting officer now owns 14,445 shares in the company, valued at $540,098.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas C. Merchant sold 6,595 shares of the company’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $36.06, for a total transaction of $237,815.70. Following the transaction, the vice president now owns 56,101 shares of the company’s stock, valued at approximately $2,023,002.06. The disclosure for this sale can be found here. Insiders have sold 60,186 shares of company stock valued at $2,167,261 in the last 90 days. Insiders own 1.94% of the company’s stock.

About Legg Mason

Legg Mason, Inc is a holding company. The Company and its subsidiaries are principally engaged in providing asset management and related financial services to individuals, institutions, corporations and municipalities. The Company operates through Global Asset Management segment. Global Asset Management provides investment advisory services to institutional and individual clients and to the Company-sponsored investment funds.

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